MPS increases stock repurchase programme

California-based analogue semi-conductor company Monolithic Power Systems has announced that its board of directors has approved an increase to the stock repurchase programme, previously announced in August 2010, from $50m (£30.9m) to $70m through 31 December 2011.

From 2 August 2010 through 31 December 2010, the company repurchased shares totalling $31.5m that will be funded from available working capital.

As of 31 December 2010 MPS had cash, cash equivalents and investments of approximately $196.9m and approximately 36.7m diluted weighted average shares of common stock outstanding.